There is a long history of Prizes being offered in an attempt to galvanize particular technological advances.

In 1714 the British government offered The Longitude Prize for advances towards a practical method for the precise determination of a ship's longitude.

More recently, the X Prize Foundation offered several prizes designed to spur progress in astronautics.

Prizes are one of the most efficient ways of leveraging charitable donations to create actual change, and charitable foundations, by setting up the technical criteria and supplying a professionally reputable panel to judge submissions make it simple for potential donors.